Economy minister says Iran’s rise in new world order promotes active role in global affairs

Abdolnaser Hemmati made the remarks during his speech at the 28th World Investment Conference of the World Association of Investment Promotion Agencies (WAIPA) in the Saudi capital Riyadh on Monday.

“The Islamic Republic of Iran, by forming a national unity government within the country and strengthening its position in international forums—such as officially joining of the Shanghai Cooperation Organization (SCO) and BRICS, as well as [fostering] close cooperation with the Eurasian Economic Union and neighboring countries in the Persian Gulf—has consistently pursued to lay the groundwork for joint collaboration,” he stressed.

Hemmati added that the unequal growth in emerging and advanced economies, rising trade tensions, and the slowdown of global supply chains have become fundamental issues for all governments, stressing, however, that amid these challenges, unprecedented opportunities have also emerged.

“Iran’s economy, which enjoys abundant natural, mineral, and energy resources, a young and educated population, an exceptional geopolitical position, and an extensive network of economic infrastructure, possesses tremendous potential to address these challenges and make use of such opportunities,” Iran’s minister further stressed.

Addressing the issue of Western sanctions against Iran, Hemmati warned that “economic sanctions are not only harmful to Iran” as their political and economic impacts have also extended to “the entire regional and global economy.”

Running November 25-27, the WAIPA’s conference, which themed “Future-ready IPAs: Navigating Digital Disruption and Sustainable Growth”, is hosted by the Saudi Investment Promotion Authority.

Ministers, leaders from investment promotion agencies, corporations, multilateral institutions and other stakeholders have attended the conference to discuss global investment trends and opportunities.